EFG Hermes, a subsidiary of EFG Holding and a leading investment bank in the Middle East and North Africa (MENA), announced the launch of its $300 million Saudi Education Fund (SEF).
The fund aims to create a world-class K-12 operator in Saudi Arabia to cater to the rapidly growing demand for private education, expected to more than double in alignment with Saudi Arabia’s Vision 2030.
Strategic Investment in Education
The Saudi Education Fund (SEF) has secured a landmark agreement with GFH Financial Group to acquire the Britus Education portfolio.
The portfolio includes seven international schools across Saudi Arabia (4 schools), the UAE (2 schools), and Bahrain (1 school). These institutions have a total capacity of 12,000 students, with approximately 8,000 currently enrolled.
Partnership to Elevate Education Standards
Khaldoun Haj Hasan, CEO of GFH Equities, emphasized the significance of the partnership:
“Britus Education represents an innovative and distinctive platform offering transformative learning experiences. GFH is proud to collaborate with EFG Hermes, leveraging their proven success in the education sector to advance Britus Education’s growth and ensure high-quality access for students across the region.”
Expertise Backed by Proven Success
Karim Moussa, Co-CEO of EFG Hermes, expressed enthusiasm about the fund’s inaugural investment in Saudi Arabia and the GCC:
“Drawing from our extensive experience with Egypt’s premier K-12 operator, EEP, we are confident in our ability to deliver superior educational services that meet the dynamic needs of the region’s communities.”
Success Story: Egypt Education Platform (EEP)
Launched in 2018 under EFG Hermes’ first education fund, EEP has established itself as a leading operator in Egypt, managing a diversified portfolio of 25 assets, including:
23 schools and preschools offering American, British, IB, Montessori, and Egyptian National curricula with a total capacity of approximately 25,000 students.
Selah El Telmeez, an educational content business serving 3-4 million students annually.
Option Travel, a specialized student transportation service catering to over 3,000 students daily.
Regulatory Approvals Underway
The transaction remains subject to regulatory approvals and certain conditions. PwC Middle East served as the financial and tax advisor, while White & Case acted as the legal counsel for SEF.
About GFH Financial Group
GFH Financial Group operates in investment management, commercial banking, and proprietary investments. With over $21 billion in assets under management, GFH is recognized as a leading financial institution in the GCC and beyond.
About EFG Holding
EFG Holding is a financial powerhouse with operations across eight countries.
It offers a full spectrum of financial services, including investment banking, non-banking financial institutions, and commercial banking, serving a diverse client base.
